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in rising oil prices, the answer was little to none. >> we believe that high energy prices are fundamentally a result of supply and demand. >> as it turns out, not even j.p. morgan's chief global investment officer agreed with him. the same day that eagles testified, this email went out to clients saying, "an enormous amount of speculation" ran up the price, and "$140 in july was ridiculous." if anyone had any doubts, they were dispelled a few days after that hearing when the price of oil jumped $25 in a single day. september 22nd. >> september 22nd. >> michael greenberger, a former director of trading for the commodity futures trading commission, the federal agency that oversees oil futures, says there were no supply disruptions that could have justified such a big increase. >> did china and india suddenly have gigantic needs for new oil products in a single day? no--everybody agrees supply-demand could not drive the price up $25, which was a record increase in the price of oil. the price of oil went from somewhere in the $60s to $147 in less than a year. and we were being told on that run-
obama still hasn't given the green light to the keystone pipeline that would give us jobs and energy n independence? now a truly bipartisan group of senators is telling the president to make a decision right now. first up this evening, this is the big question. will we get a deal done or might president obama just let us go right over the fiscal cliff, take the recession, and simply blame the gop? this is a serious question that i'm hearing from washington all the time. so let's talk. we have cnbc contributor jack bernstein, former chief economist, and art laffer, former reagan adviser. i'm not attacking obama or anything. i'm just saying there is a lot of talk of stalemate. well perhaps go through where, why and how. staffs have been meeting unsuccessfully. some people are saying, art, that the scenario is going to be that president finally throws up his hands and says there is no deal, we're going to have a stalemate and we will tall off the fiscal cliff into recession and then he will blame the republicans. what's your take? >> i think he's going to blame the republicans, larry, for
the answer is coming up next. it is the energy boom that is the brightest spot in our dull and amenemic economy. does the republican party have a front-runner for 2016 could be. don't forget. free market capitalism. we are about to prove it again in 2:00 when the kudlow report comes right back. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere el
with tech and materials and energy or industrials and energy leading the way. but again i'm not sure it has the conviction. that being said, you go back to the risk. what happens with greece, what happens with spain and what happens here in the u.s. with the fiscal cliff. there are still a lot of concerns out there despite positive news like the improvement in german business confidence and the signs we see strengthen china as well. >> mr. skeptic, what would make you bullish in this market right now? >> bill, it's fascinating. today we talk about employment trying to turn around and we see people walking out of their jobs at walmart on the biggest day of the year. i want to see a change in total attitude in this country, not just some housing numbers, not just a blip up in employment. we've got a structural problem with our mentality. that's what it would take me to get majorly bullish on the market. >> what specifically are you talking about here? i get the employment thing but what would make this -- what structural change you talking about? i don't get what you're saying here. >> well,
solve america's energy needs for the next century. [ticking] >> if you were waiting for the day global warming would change the world, that day is here. it's happening far from civilization's notice in a place about as remote as you can get. >> welcome to 60 minutes on cnbc. i'm steve kroft. we live on an increasingly endangered planet, from the glaciers of antarctica to the rich prairie lands of canada. and the ultimate disaster may be financial as well as environmental. later in this episode, scott pelley reports from antarctica on the wide-ranging effects of global warming. and later bob simon has a story from canada on the environmental damage caused by the next great oil rush. but our first story involves a controversial waste product that could have damaging effects on the environment. there are more than 600 coal-fired power plants generating electricity in the u.s., and those plants produce 130 million tons of waste called coal ash. it contains concentrations of mercury, arsenic, lead, and other toxic materials. and as lesley stahl first reported in 2009, when coal ash is dumpe
in energies and metals. let's go to sharon at the nymex. >> brent crude is the benchmark in light of what we're seeing in the israel gaish gaza conflict. once again, the contract showing the most momentum in the oil market. up $1 here on the bus explosion in tel aviv. yesterday was all about potentially a creaease-fire in israel/g israel/gaza conflict. now we're focused on more violence and whether that will escalate and spread regionally and impact oil flows in the region. we're looking at what's happening in europe. and the fact there's been no agreement there on the greek bailout deal is something that could potentially put pressure on prices and it's a reason why we're still not at the highs we saw on monday in terms of the oil price. we're continuing to watch the supply picture as well. we'll get the information from the energy department at 10:30. the american petroleum industry report showed declines across the board. that was bullish for prices as well. in terms of natural gas that report comes out at noontime today, a day earlier because of the thanksgiving holiday. we are looking a
. >>> fears of the fiscal cliff we're talking about right now, weak demand dragging down energy prices today. sharon epperson at the nymex. >> oil prices are falling waiting for more news to come out of the recent range. we are looking at a decline in crude oil, the wti contract and brent crude prices. the fact we're still waiting for a deal in greece, the fact we're waiting for major economic news here in the u.s. and the fact we're still waiting to see what wloo this truce holds between israel and hamas, all of these are factors traders are watching. natural gas is the big story in the energy complex because it fell by more than 4%. the biggest plunge in 15 weeks. traders looked at the map of the country and saw warmer temperature as head. a reason for selling pressure. back to you. >> sharon, thank you very much. let's get to this stock that just will not die. we're talking about research in motion. shares have been higher after cibc raised its rating on the company. it's the latest upgrade for this left for dead stock, which rallied over 50% in a month ahead of its new operating system l
>>> time now for "final trades." >> vmw. >> ves peek energy. chk. >> general dynamics long. >> bac, bank america. i'll wear a name tag next time. >> more "fast" at 5:00. >>> "power" starts right now. >> welcome to a special "rise above" edition of "power lunch," live from the nation's capital. the heart of the action today right now on capitol hill, dozens of ceos are working the hallways trying to convince lawmakers to get a deal done and avoid the fiscal cliff. >>> next stop, the white house later this afternoon. good afternoon, everybody. i'm tyler mathisen. it is a big day in this national discussion about how washington can avoid the fiscal cliff. some of the senators in the center of the debate will be stopping by. we may hear from some ceos this hour. we do expect to hear from some of them at a press conference later this hour. the president, by the way, weighed in on the debate this morning as well. sue, a busy day down here in washington. >> it sure is, ty. indeed it is here as well. we are going to be joined by a very special guest, noted author and investor nassem taleb.
, of course, the controversy involving the energy drinks, shares ring off the highs, still up almost 12 1/2%. goldman sachs says that the fda response to letters sent by two senators on the safety of those energy drinks will likely be benign as far as regulatory concerns go. >>> facebook shares have been on a tear lately up more than 30% the past couple of weeks so has the social media giant finally convinced investors that it's worth a second look? >>> plus you can the chevy volt still struggling to make inroads with buyers but gm now doubling down with a big bet on electric. phil lebeau live at the l.a. auto show. phil? >> i'm sitting in the all-new chevy spark ev. at a time when electric car sales are struggling in the u.s. you is this the right time for gm to roll out an all-electric compact car? that story coming up on "power lunch." sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you th
latest news in energy. mary thompson is at the nimax. energy all over the map. >> that's right. this morning we have the energy complex that's mixed. we did see initial support to crude oil from that greek deal but that quickly dissipated. dollar strength keeping pressure on crude today. traders of course keeping watch on tensions in the mid easts s but because that provides pressure to crude oil. those are some of the factors at play today. look at the rest of the energy complex, december contracts for gasoline, heating oil, as well as nat gas expire today. natural gas continuing the decline from yesterday after it came under pressure because of a warm forecast for the month of december. checking gold prices. they are pulling back today. expect volatility later as well because of december contract expires. david, back to you. >> all right. thanks very much, mary thompson. i wanted to look at two of the companies involved in the largest deal of the day. that is the $6.8 billion acquisition announced this morning by conagra who has been trying to buy ralcorp for the last couple
. more energy. >> as the workload increases, so does the stress. >> do you ever dream about work? >> i have dreamt about work, yes. i've dremp about picking items. >> sometimes items are simply too far apart to walk. >> this is the biggest fulfillment center. it's the equivalent of 28 football fields. which explains why some employees need tricycles to get around. >> with this year's holiday season expected to be their biggest one yet, amazon has brought in 50,000 additional workers. >> have fun, work hard. >> and online race that depends on the human touch to fulfill those holiday wishes. diana al via air, nbc news, phoenix. >> and we'll have plenty more coverage later on the show. >>> meanwhile americans were out shopping early and on which this weekend. the national retail federation says an estimated 139.4 million consumers hit the stores or shopped online between thursday and sunday. they spent an average $423 for a total of 59.1 billion, up nearly 13% from 2011. com score says online sales stopped $1 billion for the first time on black friday. >>> president obama even got in on t
strength and weakness. lower sectors today, teleco and energy dragging us down. take a look at s&p 500 top five laggers, impossible to ignore some retail names on that list. we saw some strong sales out of black friday but caution in the marketplace as analysts are saying, you need to see that strong sales trend continue throughout the rest of the season. not just on one or two days. it was nordstrom and macy's we were watching. coach was on the list for a better part of the day. cabot oil and gas selling off with the broader energy complex. meantime on the flipside we did have our s&p 500 top gainers. of course a lot of those names included names traded here at the nasdaq. ebay was one of the big gainers, gaining on hopes today that it will catch up with amazon on cyber monday. of course, those numbers will be tallied up within the coming days. best buy was also seeing strength on that as well. last but not least, first solar knocked apple out of one of those spots there, out of the last spot. of course, apple was a stock that was contributing to the positive momentum on the nasdaq today.
easing in japan. all bullish for gold. taking a quick look at what happened in the energy complex. a mixed day there. crude pulling back despite some very good economic news. the dollar strength at play there as well. all of this as the december options expired. ahead of tomorrow's inventory report, which is expected to show a build in crude inventory. natural gas rebounding from yesterday's decline, which was spurred by the forecast for a warm december. back to you. >> all right, mary. thank you very much. >> all right. we've got 52 minutes before the closing bell. the dow jones industrial average off of its lows, down 55 points. the nasdaq is lower by -- fractionally lower. >> and don't look now, but just as housing is showing signs of life, congress may be taking away the mortgage interest deduction. we're going to look at that coming up here. >>> plus, congressional cliff divers we call them. we're going to hear from a democratic lawmaker who says let's just do it. let's go off the fiscal cliff. better to do that than make unnecessary cuts. so what is he willing to cut? that's
, and if new york and energy want to do that, great. >> i like "reason" magazine a lot. >> me too. they seem very reasonable. >>> call them fiscal cliff spikes and dives, will the market swings continue tomorrow morning? we've got three top money pros to weigh in next. >>> and we're keeping an eye on the closed-door meeting at the white house between president obama and ceos to tackle the fiscal cliff. there's a look at the white house right there live as you're watching cnbc first in business worldwide. at optionsxpress we're all about options trading. we create easy-to-use, powerful trading tools for all. look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius! we knew you needed a platform that could really help you elevate your trading. so we built it. chances of making this? it's a lot easier to find out if a trade is potentially profitable. just use our trade & probability calculator and there it is. for all the reasons you trade options - from income to risk management to diversification - you'll have the tools to g
today as investors take a little bit more of a defensive approach to trading today. energy is the weakest sector in particular. we're seeing weakness in a lot of the natural gas stocks. there's some forecast for warmer weather in the month of december and that is hitting that group today. again energy the leading sector to the downside. >>> mary mentioned the nasdaq and technologies. let's go to the nasdaq where jackie deangelis is following the big movers over there. >> as mary said, the nasdaq just popping in positive territory but ever so slightly. still performing better than the dow and the s&p today. amazon.com posting some gains today after it was the most visited retail site on black friday. online sales for black friday estimated to have surpassed a billion dollars for the first time ever. mobile devices driving 15% to those sales and the ipad driving nearly 90% of tablet traffic. apple seeing a gain of better than 2% today. meantime as cyber monday is well under way, ebay is on the move and best performer on the nasdaq 100. closing to close its gap with amazon as
ahead you are up. i want to give you a big florida state booyah. i want to know about duke energy. >> i think that 5% yield is terrific. let's go to shalandera in ohio. >> i was trying to find out if western union was a buy or sell? >> no, i will tell you why. that was one of the most disturbing conference calls. i had no idea. you can't touch that thing. let's go to art. >> my stock is qihu. reported a terrific quarter again yesterday and i wonder what you thought. >> there are a lot of chinese companies that are doing better. buy the fxi. that is what my trust has been buying. we believe that china has been making a major turn. let's go to jeanette in florida. >> i would like to know what you think of amcc. >> way too at the mercy of the big buyers of its technology. that thing blows in the wind of whether the big guys need equipment or not. let's go to michael in virginia. >> cim, what are your thoughts? >> i regard it as unfathomable. don't buy. let's go to sal in florida. >> thank you. i have stock that goes up and down. csco. >> listen sunshine, that cisco quarter was terrific. i
for good maps. easy play and energy play. down delayed i think usually for. a restaurant, let call it that. a disji play. . and now we need to go to donna in texas. done a! >> caller: good been u snumt of of mulk ulgd nasz grol, oofr you governor ksz kolt. >> >> caller: good evening. western union? >> western union we're going to transfer. it's been going up, it's a bank. aig, they're very different. kkr is a private equity company. we're going to get rid of bank of america, we'll can keep kkr, you're leaving western union entirely and let's add apple, too, because you don't have enough technology. that, ladies and gentlemen, is the conclusion of diversify! back after the break. >> it's a brutal full-contact sport. >> from the time the whistle blows, traders bracing for what could turn out to be a wild session. >> it's the last play of the game. >> the market is absolutely getting hammered today. >> i know it's not easy but i promise to keep fighting for you. >> jim kraemer, leveling the playing field for all. >> the road is a tough one but the playoff can be the greatest one of all. >> jo
. as for commodities, of you have comex metals finishing at 12:30. nymex energy closes at 1:30 p.m. and of course it may be a shortened day for the traders, but it is the most important day of the year for retailers. everything from how many cars are parked at the malls to how many items are sold at stores. it can all tell us a lot about the state of the consumer and the u.s. economy today. so we're turning to one of the most seasoned and respected voices on wall street for help. we have dana telsey. she is our guest host for the next three hours. andrew, i'll send it over to you. >> we begin with a visit to toyland and here is toys r us. it opened its doors at 8:00 last night. and we have toys r us ceo joining us right now from the company's flagship store in times square. good morning. >> good morning. >> so i read a report you you had a big line. what's it been like all evening? >> it's been great. we did have a big line. we're at 44th and broadway.line went all the the way to 45th street and then down 45th all the way to 6th avenue. it was huge. people came in in a real celebratory mood. peop
with still a lot of uncertainty hanging over the markets. >>> and one energy expert says consumers could get another gift in the new year. he's predicting a plunge in oil prices. we can only hope. you're watching cnbc, first in business worldwide. [ male announcer ] if you suffer from heartburn 2 or more days a week, why use temporary treatments when you can prevent the acid that's causing it with prevacid24hr. with one pill prevacid24hr works at the source to prevent the acid that causes frequent heartburn all day and all night. and with new prevacid24hr perks, you can earn rewards from dinner deals to music downloads for purchasing prevacid24hr. prevent acid all day and all night for 24 hours with prevacid24hr. prevent acid all day and all night for 24 hours well, if itmr. margin?margin. don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's m
in oil as well. we are going to get an inventory report from the department of energy at 10:30. we already saw a report from the industry trade group, american petroleum institute showing builds across the board which may be a reason why we see wti prices under pressure. >> we want to redirect attention to knight capital shares up 19% this morning. let's call it 16%. at 8:20 we told you getco one of the owners of the company when knight had a huge trading glitch and lost all that value for shareholders and had to dilute itself to avoid bankruptcy, getco one of the investors. now they have made a bid for the company that's complicated. it would involve merging the two companies. and then buying or tendering for half of the company at 1.75 a share. if you're a knight shareholder, you get $1.75 in cash. you have a remaining share that involves getco and night that they value at 1.75. when we merge getco in we have a value of 3.50 a share. it's up to independent directors of knight to decide how to proceed here. as bob said as we've been saying, virtue another company controlled by the
that are doing well. energy, industrial, and telecom leading the way here. allen, what do you think of this market going into the week here? there doesn't seem to be a sense of urgency. we're just marking time waiting for the fiscal cliff. >> we sure are. very light day. volume very light. we're stuck at 1390 level on the s&p. the internals are good. for every two stocks that fell, three have gained. traditionally, the short day on friday, we almost have a little rally. >> you likely to continue to buy? >> yeah, we'll continue to buy. >> you're not skeptical? >> not real skeptical. especially in the short term. the president comes back next week. congress back next week. they've been talking to each other. that will help the rally. >> anthony, what are you going to buy? >> i think international stocks, i think chinese equities are very exciting in this kind of environment. i even think the u.s. economy is getting cheaper. this big reduction is making it a little more exciting. >> it can be health care versus defense stocks. you know, one way or the other depending on the fiscal clif
news at energy and metals and go to sharon epperson at the nimax. >> many commodities on friday had the best performance in a month and we see a subdued marketplace and a pullback across the board here. we're looking at oil prices that are lower. the truce is holding between israel and hamas and that's something that's perhaps putting some pressure on prices. the cease-fire holding and the fact that we are looking at some weakness here in the euro and traders continue to eye what is happening there in the eurozone over the greek debt deal. we're also watching of course the protest that erupted over a three-day period in egypt and that could lend some support to the oil price going forward. we are watching metals market which is somewhat lower here. gold prices after the significant rally on friday seem to be in this range between 17.46 and 17.55. we're looking at copper prices and there's a lot ahead for this market to watch namely what's happening in china and pmi data coming out later in the week. the big story in commodities definitely the slide that we're seeing in natural gas d
the risk-on trade. materials, tech, energy, financials, there's your classic risk-on move and for the week the dow is up 2%. s&p up maybe 2.3% for the week. my sense is that this is going to last another week and a half to two weeks. you have a grace period where they'll let them negotiate. if we get into the week of december 10th, everyone feels we better get some outlines of what will happen. if there's not the obvious -- we're not going to have a deal, it is going to move down very fast. i think we have a period of a week and a half here. >> we'll be watching. thank you. >>> the announcement of the cease-fire. did that lead to selling in treasuries? rick santelli is tracking the selling at the s&p. >> definite talk on the floor has been almost universally about the cease-fire and a lot of thought as to why the market and treasuries didn't really respond much. you could look for yourself. intraday. we did get some movement but it was much earlier. if you look at the s&ps, you can see that it is a different form entirely and definitely more responsive to those headlines. let's put them bo
the viewers are. let's check in now with latest moves on energy and go up to jackie at the nimax. >> we're watching oil prices this morning flat to slightly higher. wti is holding above $87 a barrel and traders are telling me we'll be in an affected range for the next couple of weeks absent big catalyst like the middle east. we have the cease-fire but we have to see how long it lasts. that's a trigger to the upside. trigger to the downside could be strength in the dollar and also data coming out of the u.s. we'll have to keep a close eye on that. fiscal cliff is a wild card. traders don't expect imminent news. we're keeping an eye on the metals complex. gold is seeing strength on euro strength today. generally a cautious tone here for the traders who are on the floor today. back over to you, david. >> all right. thanks very much. we want to turn our viewers attention now to a pitch battle going on for quite sometime but reaching a tipping point between the government of argentina led by its president and new york based hedge fund manager paul singer well known the man who runs elliott c
that sum up the drivers for oil. joining us is chief oil energy analyst. chinese demand, middle east tensions? >> i think they are the pull and push factors. china is something the market hasn't been focusing on too much. everybody was still concerned about whether it was a hard landing and whether we just see the bad data to continue. september and october numbers have definitely surprised to the up side and now the pmi above 50 will push that positive sentiment further. >> what about middle east? >> well, a million dollar question over there. from our point of view, we still don't see any physical disruption from the whole gaza situation. but i think the fear in the market very much is this is a regional conflict where other players get dragged into it and of course israel relationship has been tension. so that's why the the market is worried about it. sx bearing in mind there were fears going to the u.s. elections before after israeli strike, clearly that hasn't happened. so as far as sort of iranian production and disruption is concerned and flaring tensions, what's the key next
with energy majors tracking lower. the asx 200 is up nearly 2% for the week. nikkei 225 had already chalked up nearly 4% gain this week. back to you. >> all right. thanks for that. so we just over an hour and 30 minutes or so into the european trading day, you can see after five days of gains, we're just weighted to the down side not by much. around about 6:3. still trying to get the best around greece. cac 40 down a quarter. ibex down 0.the 4%. so quite a good move. spanish yields just a little bit higher now by not much. italian yields 4.8. a little bit of yoos for ten year bunds. we have been down 1.3 recently. as far as the currency market is concerned, euro-dollar set a three week high. ifo number better than expected at 101.4. dollar-yen steady 82.18. just off the 7 1/2 month highs that we hit yesterday. aussie dollar just still contained around the 104 mark. walmart's investigation into bribery allegations overseas, we'll have more on that story. i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. yo
. the move comes as canada gets close to its decision on whether to approve the transaction. the energy companies say discussions with the committee are still in progress, and of course they had to file approval because they have extensive operations in the u.s. gulf of mexico. >>> "the wall street journal" reporting that virtue is emerging as the frontrunner to buy knight capital. they would possibly sell off parts of that business. finally, we can't get away from the story of twinkies. the bakers union of hostess brands wants a bankruptcy judge to appoint a chapter 11 trustee to ensure an orderly winddown. the union is saying it objects the allowing incumbent management to supervise the lick wi addition. have you finished your twinkies? >> no, we're back to saving them now. we need to talk, because i read a piece in the journal today, which gave me a new insight into -- >> the jenkins piece? fantastic piece. >> it's not the bakers. it's the teamsters. it's that distribution system which we heard about. one guy can deliver -- i think you have to deliver of wonder bread, each slice indi
for wind energy. >> can't do that. >> everybody puts their hand up this is mine. >> it's less difficult, and -- >> cap you get to keep what you want. >> it's going to affect the high end, at 50,000 it wouldn't affect -- >> steve, what do you think about the $50,000 cap proposal or another number? >> i think the cap proposal has some merit. in the real world you probably end up exempting charitable. apart from what the head of the red cross is, charities see this as potentially devastating. do you want it to apply to everybody or only with people with income above $250,000. >> if it's 50,000 or 28% cap of adjusted gross you end up exempting people with lower incomes because they don't use that much. >> there are people, there's actually two different things. the $50,000 cap there are not that many people but some people who would use it. >> how can you use more? >> state and local taxes, health care, all this stuff if you put it in there. >> there are some arguments that health care shouldn't be exempted anyway. >> i understand but there's also a view at least amongst some of us that the
, number three is energy costs, number four is uncertainty about government policy. number five is the cost of useless regulations and red tape. six, seven, and eight are frequent changes in the tax code. tax code complexity, and taxes take away the money, my earnings that i use to grow my business. they're the issues that we're concerned about. >> bill, you said taxes are six, seven, and eight, so they're not in the one, two, or three category. which i might imagine given that's a huge issue going into 2013. >> well, it certainly is. and when we took the survey earlier this year, of course, maybe the fiscal cliff issue wasn't quite as big a point. right now -- yeah, this is a survey, the big one was 75 items, we only do once every five years and, of course, health care costs which is you could look at as a tax, if you will, is at the top of the list for the last 25 years, you have to go back to the early '80s to get interest costs up there. remember the 21% prime and the difficulty in getting credit back in those days. >> when's your next comprehensive survey, bill. >> well, the november s
Search Results 0 to 29 of about 30 (some duplicates have been removed)

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